Filed Under:Life Insurance, Life Planning Strategies

Americans oppose changing tax rules for retirement savings

Ninety-five percent of Americans who have a 401(k)-like retirement plan believe retirement savings should be
Ninety-five percent of Americans who have a 401(k)-like retirement plan believe retirement savings should be "off limits."

Americans overwhelmingly – by a margin of 4 to 1 – oppose changing tax rules for retirement savings, according to a new survey released today by the Coalition to Protect Retirement, a group of America's leading supporters of retirement savings plans. 

The research shows widespread support across political parties for maintaining the current tax treatment for retirement savings vehicles, such as 401(k) plans, 403(b) plans, and traditional IRAs. According to the survey, which was conducted in mid-October, 87 percent of all Americans and 95 percent of those who have a tax-deferred 401(k)-like retirement plan accounts believe retirement savings should be "off limits" to Congress and not a source of new revenue for the government. 

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Nichole Morford

Nichole Morford
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